Date: 2013-07-31

Luoyang Bearing Science & Technology to Invest RMB 150 Million for construction of Clutch Bearing Industrialization Project

Luoyang Bearing Science and Technology Co., Ltd (ZYS) announced that the high performance clutch bearing industrialization project with annual production of 500,000 sets was approved by Board of Directors of the company. With total investment of RMB 150 million, the total construction investment of the project is 110 million and circulating fund is up to RMB 40,000,000. The project is independently capitalised and the company plans to construct 500,000 sets of high performance clutch bearing in automotive, aviation, special machinery etc.

The report showed that the project will be completed in 1.75 year and production targetsrealize in one year and the total benefit of RMB 6.321 million.

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